Opinions often vary on the price strength of Bitcoin. However, recent reports claims that Bitcoin price probably hold the 25K Dollar mark as price resistance.
Bitcoin probably will end this wekk over 23K USD mark as the 26th Feb market closes. However, there is a concern of stubborm resistance by the crypto currency.
Tradingview and Cointelegraph Markets Pro data shows that BTC/USD will reach 23K mark and will go siz hundred dollars upwards from the recent lows.
The new move upwards has marked itself as a comeback after a bad week for these assets as the US equities are also suffering because of the inflation data.
However, Bitcoin still is below the flags analysts had given us previously as it is important to reclaim before the end of this month.
However, some isolated voices are still optimistic and it included kaleo that still believes that the 30K USD mark will be a price magnet for the crypto coin.
Bitcoin Might Need Only One Month To Reach The 30K Mark:
However, Crypto trader altcoin Sherpa offered a reference period to hit the 30k mark. He said it will take BTC four to six week to reach that mark.
Mags also added that BTC prices are still in the transition of moving towards the Bulls from the grasps of the bear.
Meanwhile McGlone, a senior strategist at Bloomberg said that misinformation about the surging bulls will overcome the 25K USD resistance zone.
The week before, expectations were still strong that $25,000 wouldn’t be a significant obstacle and that BTC/USD would be able to send it out without too much difficulty.
In the end, however, it was clear how difficult the endeavor was since, in addition to requests on exchange order books, important moving averages (MAs)—including Bitcoin’s 50-week and 200-week trend lines—lay above.
